Reshuffling of Ukraine's gambling market

It appears that a reshuffling of the gambling business has begun in Ukraine. Otherwise, how to explain the massive number of exposé articles that have flooded social media. Some channels are actively promoting the Pin- UP casino and attempting to whitewash its image in every way possible. Others are doing the same with Cosmolot, Slotoking, and others.

The first to drop out of the race was the Parimatch brand. Sanctions were imposed on it a year ago. As a result, the company was forced to withdraw from the market. However, others immediately stepped in to fill its place - the Cosmolot brand, Pin- UP, Favbet, Slotoking, 777, and SlotsCity.

Periodically, information emerges about each of these casinos regarding tax evasion and links to Russians. The exception is Favbet. There is the least amount of negative information about it on the Internet. It is not excluded that this brand will soon become a monopolist in the Ukrainian gambling market and that it is the client behind the high-profile investigations against other market participants.

It is worth noting that tens of billions of hryvnia are at stake annually. And this is only the funds that casinos officially disclose. An equal or even greater amount flows through cryptocurrency, direct card-to-card payments, etc. It is a lucrative piece of the pie worth fighting for.

Dirty methods are being employed to seize it. For example, information is being spread through the media about the freezing of accounts containing user funds at a number of casinos. As a result, people are trying to withdraw their funds in an emergency. And few of them are willing to deposit money into the same casino again. In reality, however, the information about the freezes does not correspond to the truth. However, this concerns very few people now.

At present, Favbet holds only 17% of the market. Its competitor Cosmolot holds over 50%. However, the situation could change fundamentally in the near future. Enormous resources are being invested to achieve this, attracting not only media outlets and bloggers but also law enforcement officials.